Legislation -
Bill Passed
(House)
(47-30) -
Dec. 17, 2012(Key vote)

Title: Establishes Tax Credits for Investors in Small Business Technology

Vote Result

Yea Votes

Nay Votes

Vote Smart's Synopsis:

Vote to pass a bill that establishes tax credits for investors in emerging technology businesses, beginning tax years after January 1, 2012.

Highlights:

Establishes tax credits for investors in New Jersey emerging technology businesses for 10 percent of the investment, effective for tax years beginning after January 1, 2012 (Secs. 3 - 5).

Defines “New Jersey emerging technology business” as a high-technology company with fewer than 225 employees, of whom at least 75 percent are filling a position in New Jersey, and that is doing business in New Jersey (Sec. 2).

Requires a New Jersey emerging technology business to meet at least 1 of the following criteria (Sec. 2):

The company is conducting research in New Jersey;

The company conducts pilot scale manufacturing in New Jersey; or

The company conducts technology commercialization in New Jersey in the fields of: